IMF and CCP, Same Fight to Create a Society of Mass Surveillance. Bitcoin Is More Necessary Than Ever.
The IMF praises the merits of Chinese social credit which could be implemented in the West thanks to CBDCs.
You've probably noticed the fight that the SEC and other regulators around the world are leading to block the road to Bitcoin and cryptocurrencies.
Underneath the apparent desire to protect consumers, there are much more complex issues at stake. One of these issues is obviously to make way for the arrival of Central Bank Digital Currencies (CBDCs) in the future.
While the Fed has not yet decided to fully commit to a digital dollar, there is no doubt that the time will come. And that's something that should alert you, because behind CBDCs lie issues of societal control that are far more complex than they appear.
While the Fed is more focused on fighting inflation, for which it is largely responsible, IMF Deputy Managing Director Bo Li has just touted the potential for increased oversight that CBDCs will provide.
To all those who think Bitcoiners are selling a highly dystopian apocalyptic world for the future, you'll see that the IMF's visions have nothing to envy in this future world we absolutely must avoid.
It all starts with an IMF seminar on CBDCs entitled “CBDCs for Financial Inclusion: Risks and Rewards” held in October 2022. You might almost laugh when you find out what it's all about, but the fact that one of the world's most powerful money management bodies is at the heart of this story will take the laughter away.
During the meeting in Washington, Bo Li approached the CBDCs from a highly disturbing perspective. Is this related to his former position as vice governor of the People's Bank of China (PBoC)? There seems to be no doubt about it. For he has not failed to promote his “social model” centered on the surveillance and distribution of social credits worthy of the worst anticipation movie.
Judge for yourself:
“Nontraditional data can be very useful to financial service providers in building credit scores. By programming a CBDC, money can be accurately targeted to the type of people who can own it and the type of uses it can be used for, such as restricting it to food purchases.”
Is it really necessary to explain why this view is problematic?
This is because of its mere mention in an official setting such as the IMF. Yet make no mistake, this is one of the main ambitions of governments in setting up these CBDCs: more surveillance.
A good example came to us from Europe recently with the Direction générale des finances publiques which has tried, in 2021, to gain access to all banking operations on the accounts of all French people. Dystopia? No, just government policy. Certainly for the safety of consumers, or the fight against terrorism, and money laundering ... You know the lying music of the powerful of the current system as well as I do!
But that doesn't seem to slow down the IMF deputy managing director who explains that even smart contracts can increase the control power of CBDCs. This is to the point of determining who can own what and under what conditions. But whose responsibility is it to decide this boundary? And who can guarantee that no drift will occur as a result of the implementation of such monetary surveillance tools? The answer will surprise you only halfway: nobody!
Bo Li states:
“Governments and the private sector can use CBDcs to program smart contracts for target policies (e.g. welfare payments, consumer coupons, food stamps). Because a CBDC can be programmed to determine what people can and cannot own.”
Regardless, this unleashed word at least provides a measure of how problematic these CBDCs can be. But more importantly, how they have nothing remotely to do with Bitcoin and cryptocurrencies.
Bo Li's disturbing demonstration is probably a good thing to alert those in the general public who still say they don't need a non-political P2P currency like Bitcoin. Hard money whose property and use cannot be censored.
Because if you keep your eyes closed, you'll see that Western governments who keep criticizing the CCP for creating its mass surveillance system, with Chinese social credit, will end up imposing the same thing on you. Those who have bought Bitcoin will then have the opportunity to resist. The rest of us will have to endure ever more unfair arbitrary decisions.
It's up to you to decide which future you want!
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